Dear colleagues.

Another year is coming to an end it is time to sum up the last twelve months before we head for the Holidays.

For the first time since 2013, our growth has been both organic and based on acquisitions. During the first half of 2022, both BrannCon and DanGrid decided to join Head Energy Group. BrannCon was the leading actor within fire engineering and advisory services in South-Western Norway, while Odense-based DanGrid has built a strong name and reputation within high-voltage electrical engineering services towards wind power and power plants. We are very proud to have them both onboard, now registered under the names Head Energy BrannCon and Head Energy DanGrid, respectively.

The incorporation of Head Energy DanGrid meant that a slight re-structuring was needed in Denmark to build a robust administrative support system around our commercial units. We now have a solid and professional administration that takes care of finances and marketing, while our commercial units, Head Energy Denmark Consulting, Head Energy DanGrid and Head Energy Germany can fully focus on sales and business development.

This fall, we also launched an expansion of our Civil Engineering branch, with legal advisory services in land, property, and rights acquisitions. Head Energy now has a well-developed and broad line of services within Civil Engineering & Construction, spanning from planning & design, via fire engineering and Project Administration, to the new and above-mentioned legal team.

Head Energy Solve has continued their development as an attractive and competitive actor within maintenance & modification projects both offshore and on onshore facilities. In 2022, they finalized their first realization for Equinor, with tie-in of a new system for removal of mercury and sulfur at the Tjeldbergodden facility. Head Energy Solve are well positioned for further growth and new milestones in 2023.

Head Energy MultiControl has also achieved important milestones during this year. In September they signed a new RLWI contract with AKOFS Offshore concerning the vessels AKOFS Santos and Aker Wayfarer. Both vessels are deployed by Petrobras. Hopefully we can reveal more exciting news from our subsea & technology team shortly.

Our consulting business, both within energy, IT, industry, and infrastructure, has had a great year. We are very excited to see that Head Energy Sweden already has turned profitable after only one year of operating. A very impressive achievement and we now look to expand our consulting business in Sweden in 2023.

We now have a staff of about 750 in Head Energy Group and estimates indicate a record revenue of around 960 MNOK with satisfying profit margins. Despite some unrest around us and that some markets are less predictable than a year ago, we still expect our growth to continue in 2023, supported by a record-high orderbook counting close to BNOK 1,1.

Financial results aside, maybe the biggest focus-shift for Head Energy in 2022 relates to work-life balance, mental health, and a sustainable way forward for the company. In September we gathered most of our in-house staff from Scandinavia for a two-day conference at Sola-strand outside Stavanger. This was a powerful and genuine event where we established a dialogue on topics that are not always included in the internal discourse of successful companies. We are very proud of the way this was welcomed by all who attended.

This year, Head Energy has also established a sustainability group that will work actively on topics like climate, environment, social responsibility, and equality. We look forward to present more of this work in 2023 and believe it is a vital step to stay profitable and attractive. In staying one step ahead.

We have also stepped up our involvement in the Haydom Lutheran Hospital in Tanzania this year and the great development work headed by our good colleague Dagfinn Berg. In this edition of HEADlines you can read the latest report from Haydom and Dagfinn’s future projects.

You can also read more about our energetic Oslo team and our new structure in Denmark.

Remember to take care of everyone around you heading into a much-deserved holiday period. We would like to take the opportunity to thank all of you for your great work and for having faith in us as an employer.

Stay safe

Merry Christmas, Season’s Greetings, and a happy new year.